Partnership expected to strengthen Enverus’ market-leading position and supercharge growth in predictive analytics, artificial intelligence and machine learning for the energy industry
Enverus, a global leader in energy data analytics and SaaS technology, announced the completion of its acquisition by Hellman & Friedman (H&F), a premier global private equity firm. The transaction was previously announced on April 13, 2021, and values Enverus at $4.25 billion, including the assumption of debt. Genstar Capital (Genstar), which had been Enverus’ majority owner since 2018, will continue to hold a significant minority stake in the company.
Recommended AI News: Acclaimed Industrial Designer Artur Tchoukanov Joins Robotic Assistance Devices
The closing of this transaction represents a significant milestone for Enverus — a data analytics and SaaS technology company which provides market-leading software and analytics solutions for companies that serve the energy industry. Enverus empowers companies to transform traditional decision making by accessing innovative cloud technology, predictive analytics, artificial intelligence and machine learning and industry-leading intellectual capital. The company has more than 6,000 customers across the entire energy mix, including 21 of the Top 25 Global Energy Companies, from E&P and midstream to power and utilities companies.
“We’re very excited to complete this transaction and begin working closely with the H&F team,” said Jeff Hughes, CEO of Enverus. “H&F has an impressive track record in the SaaS space and this partnership will allow us to benefit from their significant expertise, experience and resources. Their investment will help accelerate our growth trajectory, and drive continued innovation, as we help our oil and gas customers leverage predictive analytics, artificial intelligence and machine-learning capabilities, while simultaneously expanding into renewable energy, power and ESG capabilities.”
Recommended AI News: New C3 AI Ex Machina Customers Experience Success with No-Code AI Anyone Can Use
“H&F has followed Enverus for years and our investment is a clear vote of confidence in its industry-leading product, strong team and incredible growth potential in a market that is being revolutionized by technology,” said Ben Farkas, partner at H&F. “We’re thrilled to partner with the team at Enverus as they continue to innovate and bring advanced SaaS solutions to energy customers around the world.”
Recommended AI News: New Study Reveals 481% ROI in Gong’s Revenue Intelligence Platform
Comments are closed.